The CEO of Tesla, and the richest man in the world, has discovered yet another way to profit from his well-known position around the globe. The Tesla shareholder, who boasts a staggering net worth of about $240 billion, has entered the perfume industry. He made this known via his official Twitter account on October 12th.
The finest fragrance on Earth!https://t.co/ohjWxNX5ZC pic.twitter.com/0J1lmREOBS
— Elon Musk (@elonmusk) October 11, 2022
The initial release of DOGE came with massive adoption and attraction, with valuation going through the roof. Elon Musk significantly contributed to this development by frequently tweeting about the token on his Twitter account. However, similar to most meme tokens, the decline in enthusiasm resulted in several price changes. Many crypto analysts have pointed out the lack of utility and the resulting lower attractiveness in the market as some of the factors affecting it.
With the creation of the perfume industry, Elon Musk emphasized the acceptance of DOGE as payment. It is not surprising that the meme-based platform has had tremendous adoption within just 24 hours of the perfume launch, with a continuously rising valuation.
Elon Musk’s Boring Company is in charge of selling the perfume termed “the Burnt Hair cologne.” This perfume is pricey and comes in a dark-red bottle straight from the factory. There have already been over 10,000 purchases at the current price of $100.
A month ago, the tech enthusiast proposed the concept of creating perfume specifically for men, but his fans dismissed it as a joke and created countless memes.
Although minimal, this recent invention is another strategy for encouraging the acceptability of blockchain technology. More people will become familiar with decentralized technology if they can use cryptocurrency to buy the cologne of the world’s richest man.
Although the product has been the subject of jokes, there hasn’t been much pushback. The perfume’s sale is rising, and Elon Musk continues to amass wealth.